Fredericton Mortgage Brokers
Real Estate, Mortgage, Mortgage Centre
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| There are many different products on today's market just as there are many different personal situations, our goal is to try and |
find a product that best suits your goals and needs. Below you will find a brief description of the products available. "A" Lending - These type of lenders will provide mortgages for clients who have a satisfactory credit history and meet other strict guidelines as set out by each
lender. " A" lenders include the major banks and other mortgage companies who generally take direction from the Canadian Mortgage and Housing
Corporation or other insurers. Loans granted using the "A" Lenders are usually priced very well with the best rates on the market. Mortgages booked with an
"A" Lender are usually for the purchase of a new home or refinance of an existing property. "B" Lending - These type of lenders are willing to take more of a risk than the "A" Lenders. An individuals credit may be bruised for various reasons and a "B"
Lender will usually take a risk with the individual as long as the real estate is within or very close to an urban center and in a state of good repair. Each "B"
lender will have an outline of where they will lend in each province and clients who need to divert to the "B" Lending channel will need to put more down in the
the case of a purchase. "B" Lenders charge a higher interest rate to offset the additional risk that they take on as well as a fee for administering the mortgage. Private Lenders - These type of lenders will usually take a pretty high risk over a short period of time. When a mortgage is granted by a private lender there
has to be a work out strategy usually within 12-24 months, some extended amortizations are granted on an exception basis. Once again rates are higher and
a fee is charged for administering the mortgage. Loans booked with a private lender are usually loans that a bank or other lender will not grant due to the
higher risk involved. Rent to Own Lenders - Sometimes people are looking to purchase a new home and they are just not financially ready to do so. Rent to Own lenders help
clients get into their new home with the use of private lenders and then work with the clients so that in 2 - 5 years they can go to an "A" Lender and payout the
private lender and voila the clients are now home owners. A rent to own situation has to be properly administered to make sure that the clients best interests
are kept in mind. A rent to own agreement is nothing to take on yourself as you may find your self in a financial nightmare and lose a lot of money, that is why
Premiere Mortgage Centre brokers will only use a professionally run Rent to Own company in Canada where rent to own agreements and work outs are their
speciality. Purchase, Refinance, Equity Take Out, Debt Consolidation, Commercial Real Estate, Commercial Developers, Builders ,
We have a lender to fit your needs.
, Mortgage Centre
, Real Estate